Corporate finance and venture capital services

Description

The North East Combined Authority has procured a panel of Fund Managers in the North East Local Enterprise Partnership area on behalf North East (SPV) Limited, a company owned by seven local authorities in the North East region. The Contracting Authority: The procurement exercise was conducted by the North East combined Authority (NECA) on behalf of the North East (SPV) Limited. The Framework agreements are agreed between the North East (SPV) Limited and the Fund Managers and have been agreed in such a way as to allow North East (SPV) Limited and other Participating Authorities to access and call-off individual fund management contracts. Where a Participating Authority wishes to call-off a contract under the Framework, the contractual relationship for any resulting contract would be between the approved Participating Authority accessing the Framework Agreement and the successful Panel Member. The three Lots for which a Framework Panel has being created are as follows: — Lot 1 — Fund Management Contracts awarded under this Lot will focus on Early-Stage Investment Funds. — Lot 2 — Fund Management Contracts awarded under this Lot will focus on Later-Stage Investment Funds. — Lot 3 — Fund Management Contracts awarded under this Lot will focus on Small Loan Funds. The procurement exercise has been undertaken via the Competitive Procedure with Negotiation (CPN) procedure. This Framework Panel may be utilised by: — The North East LEP Area Fund of Funds Implementing Body — to identify and procure Fund Managers for the North East LEP Area Fund of Funds programme (that will invest across all of the North East LEP geographic area). — Any of the Participating Authorities — to identify and procure Fund Managers for Financial Instrument programmes that require FCA qualified fund managers (that will invest across all or part of the North East LEP geographic area — as specified by the relevant Participating Authority at the time of call-off).